Macau’s Chief Executive Sam Hou Fai delivered an optimistic assessment of the city’s economic outlook while unveiling a focused set of policies for 2025, aimed at accelerating the pivot toward economic diversification and aggressive global tourism promotion.
In his second policy address since being elected, the top official highlighted that Macau’s economy demonstrated solid growth in the first three quarters of 2025.
Gross Domestic Product reached MOP301.33 billion ($37.67 billion), marking a 4.2 percent year-on-year increase. The job market remained stable, with the overall unemployment rate at a low 1.8 percent, and unemployment among local residents at 2.4 percent.
The city’s fiscal health remains strong, as the fiscal reserve stood at a substantial MOP658 billion ($82.25 billion) by the end of September 2025 (comprising MOP167.3 billion ($20.91 billion) in the basic reserve and MOP490.7 billion ($61.34 billion) in the city’s extraordinary reserve.
For the first ten months of 2025, Macau’s cumulative GGR stood at MOP205.43 billion ($25.64 billion), representing an 8 percent increase year-on-year. However, the figure remains 16.7 percent below the same period in 2019, when GGR totaled MOP246.74 billion ($30.8 billion).
The tourism sector powered much of this recovery, with total visitor arrivals surging to 29.67 million (up 14.5 percent), including 1.89 million international visitors (up 12.4 percent).
Further focus beyond
The CE credited the positive economic trends to renewed visitor inflows, improved social stability, and ongoing public-administration reforms, confirming that economic recovery and adequate diversification are progressing steadily.
Despite the positive economic figures, the official stressed that implementing adequate economic diversification remains an “urgent task.” The strategy is two-pronged, demanding accelerated non-gaming development while aggressively marketing Macau globally.
Gaming sector under strict scrutiny
The government said it would ensure the “healthy and orderly development” of the gaming sector through strict legal compliance and improved digitalezed industry management. Preparations will be finalized for the end of the transition period for satellite casinos, with the labor rights of its workers to be guaranteed.
Crucially, the government will demand that concessionaires accelerate non-gaming investment projects, with a focus on initiatives that enhance Macau’s global competitiveness and support key industries in both Macau and Hengqin.
To ensure compliance, the government will set effectiveness indicators for non-gaming investment and periodically review overall contract adherence.
Macau will launch a campaign to draw visitors from beyond mainland China, actively tapping international tourist markets. The focus will be placed on Northeast Asia, Southeast Asia, South Asia, and South America.
To support this drive, Macau plans to establish economic, commercial, tourism, and cultural representations in Southeast and Northeast Asian countries. Connectivity will be boosted by expanding flight networks at the Macau International Airport and attracting tourists from regions without direct connections via neighboring hubs, air-ticket discounts, and cross-border transport incentives.
Furthermore, the city will intensify promotion, particularly targeting young people through major international events and digital influencers to build Macau’s image as an “international influencer hub.”
The government will also strengthen cross-sector integration under the “Tourism+” concept, leveraging support from Hengqin and the Guangdong-Hong Kong-Macao Greater Bay Area to expand multi-destination tourism products.
